What does “research and development” have to do with metal manufacturing?
According to the federal government (and most state governments), quite a bit. In fact, according to alliantgroup Managing Director Michael Siegel, R&D could be the ticket these companies need to slash their tax liability.
In his article appearing in the November/December edition of Fabricating & Metalworking Magazine, “Tax Tips for Job Shops: The R&D Tax Credit,” Michael discusses why metal fabrication and machining businesses are often times some of the best candidates for the R&D Tax Credit—one of the most generous tax incentives out there for the benefit of U.S. companies. In particular, Michael singles out four specific activities that generally lead to eligibility for the R&D credit, a tax incentive that can provide the savings necessary to purchase new equipment, hire new employees and further expand their R&D initiatives.
Contact us today for more information on the R&D Tax Credit and alliantgroup’s tax consulting service.